In search of a broker!

[Bert Chen]

I've been thinking about buying my first investment property but currently encountering road blocks! Especially in getting a mortgage, but I feel like my case is a little special. I was wondering if anybody is willing to share their experience with a broker or have any advice? 

Questions:

Where can I found the best broker in my area?

In this market how low can a broker get the rates lowered? 

How much does a broker typically cost?

What types of mortgages do you offer?

Are brokers able to find a mortgage lender that would be more understanding to my situation? 

[Douglas Mallett]

mortgage qualification comes first - make sure you can pull the trigger.

go with a mortgage broker and not a bank as you will get better, faster service.

realize that most re brokers will not proactively search for you- they will offer you a targeted search returns off the MLS, and maybe maybe might call you every so often asking if you are looking at it. your mileage may vary, of course.

a re broker can not lower your interest rate, period.

a good mortgage broker will have already told you this, as well as having educated you about rates, qualifying, tips on increasing your max qual amt, etc.

to find a good re broker, ask around or interview them - ask hard and direct questions, and see how they respond, as this is how they will negotiate for you, for better or for worse.

you should also know at this point what typical re broker fees are - this is very basic info, available from google or chatgpt in about 0.0000003 seconds processing time.

my best advice?

hit the books, level up and get the basics down first - then you can begin for real.

all the best!